Competition Authorities Approve DNV GL Merger

MarineLink.com
Wednesday, September 11, 2013
Henrik O. Madsen, DNV GL Group

The merger between DNV and GL is now approved. The new company - DNV GL - will be operational from September 12, 2013.

DNV GL will be the world’s largest ship and offshore classification society to the maritime industry, a leading provider of technical assurance and risk management services to the oil and gas industry and a leading expert in wind and power transmission and distribution. DNV GL also takes the position as one of the top three management system certification bodies in the world.

The competition authorities in South Korea, the U.S., the EU and China have cleared the merger between the two well-regarded companies, both of which will soon celebrate 150 years of independent operations. The new company, formally called DNV GL Group, will comprise 17,000 employees across 300 sites in more than 100 countries, and have revenues of €2,500 million per year.

“It is with great pride that we can now inform that this vision-driven merger for growth has been cleared by the competition authorities in all four required jurisdictions. The merging companies both represent leading market positions, complementary commercial positions and an acknowledged reputation for advanced technology and high quality and integrity,” said Henrik O. Madsen, Group CEO of DNV GL.

A global game changer

Madsen argues that this first consolidation of two classification societies will be a global game changer. “DNV GL will be uniquely positioned to offer a broader set of products and services, more in-depth expertise and a denser global network of sites second to none. And importantly, there is a strong commitment by both DNV and GL to the merged company continuing to invest heavily in technology, research and innovation.”

Advancing safety and sustainability

An increasingly complex risk environment for customers is expected to drive demand for the new company’s technology and risk management services. “In today’s risk-sensitive environment, a company’s failure to manage risk properly may lead to adverse events, loss of life, damage to the environment or critical business consequences, putting trust and credibility at risk. I firmly believe that DNV GL will be in a stronger position to help companies manage their challenges in the new risk reality and enable them to advance the safety and sustainability of their operations,” emphasizes Madsen.

Need for independent expertise

While companies’ compliance with standards and pursuit of safety and protection of the environment has undoubtedly improved over recent years, Madsen believes there is definitely room for improvements.

“Standards are improving, but there is a lack of international governance. The industry needs strong, independent players that promote greater openness, consistency and effectiveness in the profession and push the development of new adequate measures and standards.”

Madsen continued, “For our part, DNV GL, must take an active stance and show that we have qualified opinions on technical, operational, environmental and risk management issues. We aim to deliver technical solutions that are practical and in the best interests of our customers and other stakeholders.”

One operation

The past six months laid emphasis on integration planning so that the new company is ready to start operating as one company with effect from 12 September. This means that the former DNV and GL customers will now benefit from a broader service capability, while maintaining the same contact points in DNV and GL as the integration moves forward. All certificates and approvals from DNV and GL will remain valid. In the coming months, DNV GL will accelerate integration processes to ensure consistent and continuous service operations, avoiding any business interruption for customers.

Global impact

“We look forward to offering the best capabilities of our respective organizations to further advance the industries we serve and make a global impact for a safe and sustainable future – a safer, smarter and greener future for our customers and society at large,” concluded Henrik O. Madsen.

dnv.com/merger
 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Energy

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Austal Graduates 48 4-Yr Apprentices

Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R.

Mexico Unveils National Strategy ahead of Paris Climate Talks

Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the

Marine Power

Schmiedag and Wildauer Schmiedewerke: 'We Forge Partnerships'

Olaf Wiertz, Sales Director at Schmiedag GmbH (SDG) and Wildauer Schmiedewerke GmbH & Co. KG (WSW) said: “We are more than just a supplier to our customers – we are their partner.

Rolls-Royce Propulsion for Polar Research Vessel

Rolls-Royce informs it has been awarded a contract by shipbuilder Fincantieri to supply a fully integrated propulsion system for Norway’s new Polar Research Vessel,

Indonesia Partners with China on Maritime

Indonesian President Joko “Jokowi” Widodo and Chinese President Xi Jinping pledged increased maritime cooperation during the formers visit to China.   The joint

News

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Classification Societies

DNV GL - Maritime CEO Addresses Cybersecurity at CMA 2015

“Ships and offshore structures are becoming more and more interconnected,” said Tor Svensen, CEO DNV GL - Maritime, when taking the stage at this year’s CMA

Lloyd's Launches 2015 Container Certification Scheme

Lloyd’s Register launched its 2015 Container Certification Scheme today to give a clear and concise set of rules to ensure offshore and onshore containers are safe and certified correctly.

Attracting, Retaining Talent - IRS Shows the Way Forward

At a time when the global shipping industry is going through an unprecedented and extended downturn, the overriding challenge is to stay afloat and wait for the tide to turn.

Consulting

Holland America Line Ships Score 100

On recent routine United States Public Health inspections (USPHI) conducted by the U.S. Centers for Disease Control and Prevention, Holland America Line’s ms Statendam,

Princess Astrid visits DP World

Antwerp Gateway, managed by DP World (one of the largest container terminal operators in the world) is a significant contributor to the success of the Port of Antwerp.

LOC Group Announces Two Appointments

Global marine engineering consultancy LOC Group (London Offshore Consultants) announced appointments in two new positions; John Quarrington has joined the company

Offshore Energy

Nations Convene for Arctic Maritime Discussion

Citing an increasing need to ensure safety, security and stewardship of Arctic waters, member countries of the Arctic Council gathered at U.S. Coast Guard Headquarters

Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.

Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2217 sec (5 req/sec)